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Cable Update (GBPUSD)

  • #347,921
  • Oct 1, 2013 11:07am Oct 1, 2013 11:07am
Quoting USD-Bear
{quote} it did, nice bounce from 10.470, need to visit it there again to get into my short though... USDOLLAR D1: {image}

  • #347,922
  • Oct 1, 2013 11:16am Oct 1, 2013 11:16am
Quoting nAVIN2007
{quote}
ah well, might miss it, so be it, USD was at perfect level to turn, GU almost, won't run behind the market.....
Bears not yet at of the wood, but they sure are trying
Don't be a hero. Don't have an ego. Always question yourself
  • #347,923
  • Oct 1, 2013 11:23am Oct 1, 2013 11:23am
Hello all,

If you review the below chart notice the PA to RSI divergence that has formed?

  1. Given that we appear to have a shooting star forming today
  2. Noting market sentiment 70% traders short
  3. Reviewing our event risks for the week (especially an NFP that will be delayed)

I think its safe to begin looking for short opportunities from tomorrow targeting 1.613xx / 1.589xx with a two week duration SL @ 1.626xx

G/L

Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusddaily divergence bearish.png Size: 15 KB
Click to Enlarge Name: Event Risk GU wk1 Oct.png Size: 42 KB
  • #347,924
  • Oct 1, 2013 11:34am Oct 1, 2013 11:34am
Quoting USD-Bear
{quote} ah well, might miss it, so be it, USD was at perfect level to turn, GU almost, won't run behind the market..... Bears not yet at of the wood, but they sure are trying

well u know i dont want it to go up..
  • #347,925
  • Oct 1, 2013 11:36am Oct 1, 2013 11:36am
Quoting nAVIN2007
{quote} well u know i dont want it to go up..
yes I know, but it's only st and besides that we not always get what we want
Don't be a hero. Don't have an ego. Always question yourself
  • #347,926
  • Oct 1, 2013 11:40am Oct 1, 2013 11:40am
Quoting USD-Bear
{quote} yes I know, but it's only st and besides that we not always get what we want
i hope u are wrong
  • #347,927
  • Oct 1, 2013 11:48am Oct 1, 2013 11:48am
Quoting USD-Bear
{quote} yes I know, but it's only st and besides that we not always get what we want
We mostly get what we see. No matter we want it or not.
-milkeyway
  • #347,928
  • Oct 1, 2013 11:48am Oct 1, 2013 11:48am
1.6220 is critical for daily close.

It reflects the support point on the downward trend from 27.04.2011 to now on daily chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 112 KB
  • #347,929
  • Oct 1, 2013 11:50am Oct 1, 2013 11:50am
Quoting kumaramy
{quote} We mostly get what we see. No matter we want it or not.
sure thing
Don't be a hero. Don't have an ego. Always question yourself
  • #347,930
  • Oct 1, 2013 11:53am Oct 1, 2013 11:53am
st USDOLLAR for those interested:

USDOLLAR M15:
Attached Image (click to enlarge)
Click to Enlarge Name: Picture0021.png Size: 81 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #347,931
  • Oct 1, 2013 12:07pm Oct 1, 2013 12:07pm
Bullish traders, Let it break both Resistance trendlines.

Bearish traders, can see 1.5780 level.

Usually, I don't share signals. I try to share analysis which might help you.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 35 KB
-milkeyway
  • #347,932
  • Oct 1, 2013 12:32pm Oct 1, 2013 12:32pm
I agree, up move is overextended, important levels have been cleared and target levels have been hit. Starting to build a short one from here.

http://i.imgur.com/jV6LMiI.jpg
  • #347,933
  • Oct 1, 2013 4:59pm Oct 1, 2013 4:59pm
In the past 1.5 yrs, there have been 5 overbought scenarios, each of which saw at least a 1.3% drop, some 2.7% (before stochastics show Oversold)

Stochastics are shown as a histogram with "0" line set at 85 (i.e. when green its overbought)

Also considering the Bearish divergence in the credit markets this is one of the best set-ups I've seen in a while
Attached Image (click to enlarge)
Click to Enlarge Name: GBP OB.png Size: 59 KB
  • #347,934
  • Oct 1, 2013 5:23pm Oct 1, 2013 5:23pm
Quoting JeremyWS
In the past 1.5 yrs, there have been 5 overbought scenarios, each of which saw at least a 1.3% drop, some 2.7% (before stochastics show Oversold) Stochastics are shown as a histogram with "0" line set at 85 (i.e. when green its overbought) Also considering the Bearish divergence in the credit markets this is one of the best set-ups I've seen in a while {image}
Nice historical analysis. Are you in this trade yet or waiting for a particular entry?
  • #347,935
  • Oct 1, 2013 5:26pm Oct 1, 2013 5:26pm
Quoting edindzeko
{quote} Nice historical analysis. Are you in this trade yet or waiting for a particular entry?
Yep I'm short.
  • #347,936
  • Oct 1, 2013 5:32pm Oct 1, 2013 5:32pm
agreed on several analysis that we might have temp. top already.. supported by fiber and swissy reversal candle.. i will look into short entry later (bcoz right now is only asian session, lol.)

later guys.
  • #347,937
  • Oct 1, 2013 5:35pm Oct 1, 2013 5:35pm
Quoting A-speculator
agreed on several analysis that we might have temp. top already.. supported by fiber and swissy reversal candle.. i will look into short entry later (bcoz right now is only asian session, lol.) later guys.
I'm looking to get short with EITHER a break of 1.6181 area or if we get back up to 1.6220 area. Right now just hanging out.
  • #347,938
  • Oct 1, 2013 6:12pm Oct 1, 2013 6:12pm
Quoting edindzeko
{quote} I'm looking to get short with EITHER a break of 1.6181 area or if we get back up to 1.6220 area. Right now just hanging out.
yeah, in the mean time i shorted aussie and kiwi.. but i think kiwi has better pattern for bearish based on daily..
  • #347,939
  • Oct 1, 2013 6:23pm Oct 1, 2013 6:23pm
Quoting A-speculator
{quote} yeah, in the mean time i shorted aussie and kiwi.. but i think kiwi has better pattern for bearish based on daily..
Leaving Aussie alone for right now but Im short NZDJPY as of earlier today, seems like NZDUSD is the better trade at the moment but Im into the green so far...
  • #347,940
  • Oct 1, 2013 6:38pm Oct 1, 2013 6:38pm
looks like a blowoff top on the chart. gbp bulls watch out!
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